690-dollar bid and Yellow Stone Electric Ltd as a reserve bidder with 613 million dollars bid.

“Daniel Power Consortium emerged the preferred bidder for Ogorode Genco (Delta) with a 531-million-dollar bid, while ESOP Power Ltd was the reserved bidder with 510 million dollars bid.

“Olorunsogo (Ogun) Genco initially had five bidders but ALTEO Consortium pulled out and would therefore pay a fine of four million dollars as penalty.

“So for Olorunsogo, we have ENL Consortium as preferred bidder with 751 million dollars bid and Index Consortium emerged the reserved bidder with 730 million dollars bid.’’

Peterside said that Shayobe International Ltd Consortium emerged the preferred bidder for Omoku Genco in Rivers with a 318-million-dollar bid, while ALTEO Consortium emerged as reserved bidder with a 312.5-million-dollar bid.

The NCP boss said Omotosho Genco in Ondo State had the highest number of nine bidders, with Omotosho Electric Power emerging as preferred bidder with a 659-million-dollar bid and ENL Consortium as reserved bidder with 645 million dollars bid.

Earlier, the Chairman of the Joint Technical Transaction Committee, Mr Gabriel Suswam, had expressed delight at the successful conduct of the bid.

He said “all the plants are in good condition, the investors who bid for the plants have done their own due diligence and inspection of the plants before submitting their bids.’’

Mr James Olotu, the Managing Director, NDPHC, said that with the privitisation of the GENCOS, the power situation in the country would improve significantly.

The News Agency of Nigeria (NAN) reports that 66 companies initially applied to bid for the 80 per cent equity in the 10 power plants, however only 42 companies were approved to take part in the exercise.